Hey Mandy,

Welcome to the forum and thanks for your post.

Before answering – what is your investing purpose/goal for this property?

Depending on how you have leveraged, it is unlikly to be +ve cashflow (even with the attractive rent… unless you do things with depreciation).

In that case it will be a matter of capital gains – yes? if so, how…[Read more]

Hey,

The fatal flaw in your theory is that these are all things that you think might increase then rent.

Personally, I do it differently… before letting the property interview the prospects and offer them:

1. A base rent ($160 per week)
2. A list of improvements and the additional weekly rental cost.

For example:

Weekly Rent (not…[Read more]

Hi,

As I wrote in my first book, I would be ultra-careful buying in rural areas. It is very important to remember that demand drives prices, so it is wise to evaluate demand stimulants in the area where you are investing as well as the normal due diligence issues (i.e. numbers, property, people).

More lately, I have been making (rather than…[Read more]

Hi,

This is quite a complex inquiry, so I will try to break it down into components. This is just my opinion – you would be well advised to seek proper legal and accounting help for this one!!!

Right then:

There is a house that would suit our needs as a PPR and as an IP due to the two self contained units attached.

Okay – first point… be…[Read more]

Hi,

BuyerBeware will help you with analysing the deal, however it won’t be able to make the investing decision for you.

A good place to start is trying to work out what you want from your investment property from both a cap gains and cashflow perspective.

I recommend that you identify what % returns you desire, as doing this will help you to…[Read more]

Hi Geoff B,

Thanks for making your post.

So… if you can, would you (and others) like to share say up to three insights you have when it comes to investing in general?

Mine would be:

1. Luck is hoping to profit whereas skill is applying a known strategy with a specific outcome in mind, by a specific pre-determined time, prior to beginning

2.…[Read more]

Hi Noel,

Thanks for your post and I hope you enjoy the books that I have written.

From time to time I get over to Canada – when I do I always catch up with Don Campbell of http://www.albertarein.com

I have spoken to his real estate group in the past, and I hope to do so when next I manage to cross the pond.

As for the investing techniques – I know…[Read more]

Hi Francis,

The current and prior bills relate to the conveyancing costs associated with the purchase and sale of real estate. When you enter into a property transaction you need a legal representative to review the contract as well as deal with mortgage and title issues.

Exit strategies are the ways that you plan to realise your investment…[Read more]

Hi,

Well, looks like this month was the month. Interest rates up 0.25% this morning.

I have just posted this comment as a blog:

The Reserve Bank of Australia (RBA) today announced that its benchmark cash rate would rise 0.25% to 5.5%. The last increase was in December 2003 when it rose the same amount.

As far as impact goes, someone with a…[Read more]

Hi,

Thanks for replying!

I’ll be in touch with you early next week.

Cheers,

Steve McKnight

**********
Remember that success comes from doing things differently.
**********

No Jo.

Someone I know in the media would like to speak to them about a story that is unfolding.

Bye,

Steve McKnight

**********
Remember that success comes from doing things differently.
**********

Hi,

I’m sorry if my personal declaration of faith has been misinterpreted.

The quote you mention is on the acknowledgement’s page as I wanted to give God the glory and to thank Jesus for saving me.

Nowhere in the bible does it say it is a sin to be wealthy. The parable of the rich young ruler says “if you want to be perfect…”.

Surely Jesus,…[Read more]

The People Who Hate People Party? LOL. You crack me up!

You wanna moderate that forum Mr. Gatsby?

*Sigh*

Hi,

We made an offer to rip up the contract so the vendor could sell to someone else at the higher price.

This called their bluff, and in the absence of another genuine buyer, the sale went through regardless.

One thing I did mention to the agency, which happened to be a Jenman agency, was that if they thought they did an inferior job in…[Read more]

Hi Jenny1,

From the sounds of it you are talking about flipping the property – meaning that you will onsell the property prior to taking formal ownership of it.

In that case, you will still need to pay stamp duty, but your solicitor will organise a similtaneous settlement meaning your purchase and sale will happen on the one day.

You will…[Read more]

Hi,

I’d say you had the basics pretty much figured out.

In time you’ll need a reason to invest, but for the moment all you need is a deal to get your teeth stuck into.

Cheers,

Steve McKnight

**********
Remember that success comes from doing things differently.
**********

Hi,

Thanks for your post and welcome to the forum.

I guess the question you have to ask yourself is… ‘How much capital gain am I expecting this property to earn (both % and $).’

It would only make sense to buy if the expected inflation adjusted capital growth was more than any accumulated negative cashflow.

Perhaps post back listing what you…[Read more]

Hi,

Why not ask him to help out here on the forum then? We need all the experts we can!

Cheers,

Steve McKnight

**********
Remember that success comes from doing things differently.
**********

Nikki,

Yep, that’s the way to go.

But add a practical element to your theory too by looking for real deals where you can test your theory without necessarily having to purchase.

Part of gaining confidence is the ability to find deals that fit your solution mindset.

It’s a shameless plug, but try to get to a masterclass if you can to find out…[Read more]

Hi Nikki,

Just be careful that you don’t match the problem with the strategy, rather you try and match the strategy with the problem.

For example, becoming familar with wraps equips you to solve just one of many types of property problems. A mistake I made when I started was thinking wraps was the answer to every investing problem. It’s…[Read more]